Hi All,
Just wanted to ask the community a quick question...
I am looking at implementing a 'training contract' for the company I am working for. They do not currently have anything like this in place. I am looking to benchmark the period of time the delegate is required to pay back costs of the training if they were to leave within a certain period after completing the course/gaining the qualification.
I'm currently thinking that they should pay back 100% of the costs within 1 year down to 50% after 18 months and 25% after 2 years.
This will only be implemented if the delegate is studying to gain a nationally recognised course or qualification/further education....what are your thoughts and how long do those of you who have a contract already in place require the delegate to be 'tied in' for?
Thanks in advance,
Lisa :-)
One Response
Fair and Reasonable – That’s the Key (in my view)
I am a T&D Manager in a financial services organisation. Our standard policy is repayment of all fees paid by the Company if a person leaves for any reason other than redundancy within a 12 month period of completing their study. There is a lot more detail to it but that is the essence. Our Accountancy study policy for CIMA and ACCA is slightly different in that it is a decreasing % (the same as yours) over a two year period taking into account the fact that someone might have taken a paper more than 2 years, in which case repayment would not apply for that paper.
The Accountancy study is different because we invest anywhere between £8-10K in these guys over a 3-4 year period. The standard policy covers exams which may cost as little as £150 and an employee may only take one or two exams, so any more than 12 months after completion we feel is unreasonable.